Intel Cuts Over 5,000 Jobs in Restructuring Amidst AI Shift

Intel is undertaking a major restructuring, laying off over 5,000 employees across four US states to streamline operations and focus on AI. The cuts, impacting California, Oregon, Arizona, and Texas, are part of CEO Lip-Bu Tan's plan to address the company's losses and lagging competitiveness in the semiconductor market. Tan aims to make Intel leaner, faster, and more focused on core AI products to regain its footing.